The price of WTI crude oil futures for May delivery is settling at $64.31. That is up $1.23 or 1.95% on the day.
The gains were helped by
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U.S. Treasury sanctions being imposed on Iranian LPG magnate Seyed Asadoollah Emamjomeh and his corporate network, restricting hundreds of millions of dollars’ worth of Iranian LPG and crude oil exports.
- Hopes for trade issues with China, Japan, and India over time
Counter to that bullish news is that OPEC+ is planning to ease production cuts by adding 411,000 barrels per day to the market next month, though this was already expected. However any trade deals are said to not be imminent.
This article was written by Greg Michalowski at www.forexlive.com.
